A PYMNTS Company

EU Antitrust Watchdog Intensifies Probe Into Visa and Mastercard Fees

By  |  May 25, 2025

European antitrust regulators have deepened their investigation into card payment giants Visa and Mastercard, targeting the fees the two firms charge to companies across the payments ecosystem, according to a document from the European Commission reviewed by Reuters.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The latest move involves a newly issued questionnaire aimed at terminal providers and payments companies. It follows an earlier outreach last month to merchants and retailers, as EU authorities expand their inquiry into whether Visa and Mastercard’s fee structures may violate competition rules.

    Per Reuters, the European Commission began examining the two firms in September after receiving complaints from merchants and financial technology firms. At the center of the inquiry are “scheme fees” — charges related to accessing and participating in Visa and Mastercard’s payment networks. Together, the two companies are responsible for processing roughly two-thirds of all card transactions in the euro area.

    The Commission’s latest questionnaire requests detailed information about fees and services imposed by Visa and Mastercard between 2017 and 2024. It asks respondents to report how many new fees or service categories were introduced during that period, how frequently changes occurred, and which services are mandatory for payment service providers.

    Related: Visa and Mastercard Beat Cardholders’ Renewed Antitrust Claims Over Swipe Fees

    Regulators are also assessing transparency practices. According to Reuters, the questionnaire asks whether Visa and Mastercard clearly communicate fee changes and whether companies are given adequate notice. Respondents are further invited to disclose whether they have filed complaints with either firm in the last seven years and the duration it took for those grievances to be addressed.

    The probe is not just looking at pricing. The Commission is also examining how central the two networks are to payment processing in Europe. A person familiar with the matter told Reuters that the regulators appear to be evaluating whether Visa and Mastercard may hold a dominant market position and are potentially misusing that dominance.

    In response to the regulatory scrutiny, Mastercard stated that it aims to provide consumers and businesses with secure, reliable, and convenient payment options. Visa defended its pricing, emphasizing the value it delivers to all participants in the European payments ecosystem, including its “high levels of security and fraud prevention.”

    Source: Reuters